Car Title Loan Business Profits & Frequently Asked Questions
Our “Car Title Loan Training Bible” (300 + pages) includes a chapter on every aspect of starting a car title loan company.
Frequently Asked Questions About the Car Title Loan Businesses:
Can I really start a car title loan business with this “Manual?”
Yes. Read it… study it… call us (702-208-6736) or email Help@AutomobilePawn.com with any questions.
Does the “Manual” include sample contracts?
Yes, we have every state and several Canadian province documents & contracts.
Does the “Bible” provide me with car title software management vendors?
Yes, we include a thorough chapter discussing car title loan software issues and a list of software loan management software companies. This chapter will save you at least a couple of hours on Google trying to track down software companies with specific car title lending solutions already in place!
How much money can I make offering car title loans?
This depends on your state/province. 9%+ interest per month on the loan principal is typical. In some locales 25% – 30% gross per month is achieveable. If you loan $1000 for 30 days, you’ll receive $90 to $300 in fees PLUS your original loan principal of $1000. Typically, you’ll repo less than 3 out of 100 title loans. If you’re unsure, call a few car title loan companies in your area and ask. Of course, if you plan to implement one or more of the more creative models such as the choice-of-law, tribe, internet… you could conceiveably earn more.
What about defaults?
If you choose to fund a car title loan customer simply because they can “fog a mirror,” you’ll experience defaults. If you follow our recommendations as discussed in our “Bible,”, a default rate of less than 5% is realistic; even lower default rates are achieved by us and more than a few of our clients. The key to success in car title lending is to properly value the collateral – car, motorcycle, RV, boat… – and not “over-leverage.”
Why should I trust Trihouse to teach me the car title loan business?
Our team has more than 20 years experience with car title loans, payday loans and check cashing. Order our “Title Loan Training Bible” today, read it, then pickup the phone and call us (702-208-6736) for counsel.
If I order the Adobe Acrobat version available for immediate download, how will I receive my state/province documents and files?
Within 2 business days, we’ll email a link to a private File maintained just for you at ShareFile.com.
Available immediately in Adobe Acrobat or invest in the printed and shipped version. Need more info? Have a question? Help@AutomobilePawn.com